This series of books is respectfully dedicated to professor Willard Eugene Hotchkiss, dean of northwestern university school of commerce, whose zeal in the cause of commercial education has been a constant source of inspiration to the author.

The first edition of these books was prepared and published in 1911 and 1912, largely with the idea of meeting the class room needs of the author's own students. They have, however, been widely sold t...

25. A writes B a letter offering to sell B five carloads of lumber according to terms stated - giving B five days to accept. B replies within the five days agreeing to take the lumber on the terms pro...

83. A applies for Are insurance upon the house and outbuildings upon his farm. The insurance agent comes out and looks the place over and decides to write the insurance. By mistake he mis-described th...

25. A employed B to purchase property for her for $5,000. B negotiated with the owner and found he could purchase for $4,500. B thereupon bought it himself. A learning of this brings suit, tendering $...

47. In a personal injury case, caused by breaking of chains, plaintiff offers to testify as evidence against the defendant that defendant's foreman an hour after the accident stated to plaintiff that...

In preparing this book the author considered the plan of setting out the Negotiable Instruments Act, section by section, following each section with an explanation and illustrations. But for several r...

SEC. 15. Where an incomplete instrument has not been delivered it will not, if completed and negotiated, without authority, be a valid contract in the hands of any holder, as against any person whose ...

(Note: The following Act was recently drafted by the Commissioners on Uniform State Laws, and recommended for passage by the different states. It does not seek in any substantial way to change existin...

Section 17. (No Property Passes until Goods are Ascertained.) Where there is a contract to sell unascertained goods no property in the goods is transferred to the buyer unless and until the goods are ...

Section 23. (Sale by a Person Not the Owner.) (1) Subject to the provisions of this act, where goods are sold by a person who is not the owner thereof, and who does not sell them under the authority o...

Section 41. (Seller Must Deliver and Buyer Accept Goods.) It is the duty of the seller to deliver the goods, and of the buyer to accept and pay for them, in accordance with the terms of the contract t...

Section 54. (When Right of Lien May Be Exercised.) (1) Subject to the provisions of this act, the unpaid seller of goods who is in possession of them is entitled to retain possession of them until pay...

Section 57. (Seller May Stop Goods on Buyer's Insolvency.) Subject to the provisions of this act, when the buyer of goods is or becomes insolvent, the unpaid seller who has parted with the possession ...

Section 60. (When and How Resale May Be Made.) (1) Where the goods are of a perishable nature, or where the seller expressly reserves the right of resale in case the buyer should make default, or wher...

Section 61. (When and How the Seller May Rescind the Sale.) (1) An unpaid seller having a right of lien or having stopped the goods in transitu, may rescind the transfer of title and resume the proper...

Section 63. (Action for the Price.) (1) Where, under a contract to sell or a sale, the property of the goods has passed to the buyer, and the buyer neglects or refuses to pay for the goods according t...

Section 66. (Action for Converting or Detaining Goods.) Where the property in the goods has passed to the buyer and the seller wrongfully neglects or refuses to deliver the goods, the buyer may mainta...

Section 71. (Variation of Implied Obligations.) Where any right, duty or liability would arise under a contract to sell or a sale by implication of law, it may be negatived or varied by express agreem...

SEC. 24. If goods are delivered to a carrier by the owner or by a person whose act in conveying the title to them to a purchaser for value in good faith would bind the owner and a negotiable bill is i...

SEC. 44. Any officer, agent, or servant of a carrier, who with intent to defraud issues or aids in issuing a bill knowing that all or any part of the goods for which such bill is issued have not been ...

KNOW ALL MEN BY THESE PRESENTS, that Henry Sampson of the City of Chicago in the County of Cook and State of Illinois, party of the first part, for and in consideration of the sum of Four Hundred and ...

(Note: As stated in the text, it is not necessary to put contracts of sale in writing except as required by the statute of frauds. If there is delivery of all or part, or payment of all or part of the...

(As a chattel mortgage is so often given in sale transactions, to secure a portion or all of the purchase price, a form is here given. It is better to use the printed blanks to be secured of the stati...

SEC. 3. No carrier is bound to transport said property by any particular train or vessel, or in time for any particular market, or otherwise than with reasonable despatch, unless by specific agreement...

(NOTE: The forms in this series of books are not numerous owing to the belief of the author that they serve no useful purpose, and may in fact be misleading, as it is very clear that there is no way t...

95. M desiring to remember P after his death, gives P a note to P's order. P sells it to H who knows nothing of its origin. P dies and the note is presented for payment. If H is a holder in due course...

Clearly all buildings will pass, as will the fences, the pumps, the windmills, the walks and other improvements; as will all things that are part of such things, as shutters and screens, although perh...

The inquiry to be made here is as to the territorial extent of ownership, i. e., what are the boundaries of the land. There may be, in any particular case, no difficulty, unless it be merely of survey...

(The following form which has been filled in by the editor is one of those in use in Cook County, Illinois. It was approved by the Chicago Real Estate Board, February 4, 1903, and is copyrighted. It i...

This grant is intended as a security for the payment of the sum of..................dollars, in.......................'years from the date of these presents, with interest thereon at the rate of.........

. (Under Illinois Law of 1879.) THIS INDENTURE WITNESSETH, That the Grantor, of the..................in the County of............and State of..............................for and in consideration of t...

And as additional security for the payment of the indebtedness aforesaid, the said party of the first part, for said party, and for the heirs, executors, administrators and assigns of said party, cove...

KNOW ALL MEN BY THESE PRESENTS, That I, William H. Jones, trustee, and holder of the note secured by the trust deed hereinafter described of the County of Cook and State of Illinois, for and in consid...

For value received..................hereby guarantee the payment of the rent and the performance of the covenants and agreements of the party of the second part in the within Lease, in manner and form...

......................hereby consent to the assignment of the within Lease to.................................on the express condition, however, that the assignor shall remain liable for the prompt pa...

I, John Doe, of the City of Chicago, County of Cook and State of Illinois, being of sound and disposing mind and memory do hereby make, ordain, declare and publish this as my last will and testament, ...

Section 1. Meaning of Words and Phrases. - a. The words and phrases used in this Act and in proceedings pursuant hereto shall, unless the same be inconsistent with the context, be construed as follows...

Section 2. That the courts of bankruptcy as hereinbefore defined, viz., The district courts of the United States in the several states, The supreme court of the District of Columbia, The district cour...

SEC. 6. Exemptions of Bankrupts. - a. This Act shall not affect the allowance to bankrupts of the exemptions which are prescribed by the State laws in force at the time of the filing of the petition i...

SEC. 11. Suits by and Against Bankrupts. - a. A suit which is founded upon a claim from which a discharge would be a release, and which is pending against a person at the time of the filing of a petit...

SEC. 18. Process, Pleadings, and Adjudications. - a. Upon the filing of a petition for involuntary bankruptcy, service thereof, with a writ of subpoena, shall be made upon the person therein named as ...

SEC. 22. Reference of Cases After Adjudication. - a. After a person has been adjudged a bankrupt the judge may cause the trustee to proceed with the administration of the estate, or refer it (1) gener...

SEC. 40. Compensation of Referees. - a. Referees shall received as full compensation for their services, payable after they are rendered, a fee of fifteen dollars deposited with the clerk at the time ...

SEC. 48. Compensation of Trustees, Receivers and Marshals. (a) Trustees shall receive for their services, payable after they are rendered, a fee of five dollars deposited with the clerk at the time th...

SEC. 55. Meetings of Creditors. - a. The court shall cause the first meeting of the creditors of a bankrupt to be held, not less than ten nor more than thirty days after the adjudication, at the count...

SEC. 58. Notices to Creditors, (a) Creditors shall have at least ten days' notice by mail, to their respective addresses as they appear in the list of creditors of the bankrupt, or as afterwards filed...

SEC. 61. Depositories for Money. - a. Courts of bankruptcy shall designate, by order, banking institutions as depositories for the money of bankrupt estates, as convenient as may be to the residences ...

(Note: This table is necessarily too brief for anything except general reference. Accuracy is attempted but not guaranteed; and details and distinctions between large and small loans, etc., are omitte...